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Mukesh Ambani’s Rs 9,26,055 crore firm may take on Tata-backed Zara, exploring opportunity
Reliance Retail officials have informally told top executives of two prominent malls in New Delhi and Mumbai that Reliance Retails may not stop with just Old Navy and it also may introduce Gap’s other brand Banana Republic to India.
Updated : Aug 17, 2023, 11:24 AM IST
 "Mukesh Ambani")
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Mukesh Ambani and Isha Ambani led Rs 9,26,055 crore ($112 billion) firm Reliance Retail has brought in a range of international brands to India in the last few years. Now, the company is reportedly planning to bring in a new H&M and Zara rival to India. As per a report by IndiaRetailing, Reliance Retail is planning to bring US fashion group Gap Inc.'s brand Old Navy to India. For those who don’t know, Old Navy is a 29 year old fashion brand that caters to men, women and kids. It is one of the four companies owned by Gap Inc that includes Gap, Banana Republic, Old Navy and Athleta. The report claims that Ambani’s plans for the Old Navy brand are in very exploratory stages.
Apart from this, the report by IndiaRetailing has also revealed that Reliance Retail officials have informally told top executives of two prominent malls in New Delhi and Mumbai that Reliance Retails may not stop with just Old Navy and it also may introduce Gap’s other brand Banana Republic to India.
To recall, Isha Ambani’s Reliance Retail entered into a long-term franchise agreement with Gap in 2022. The deal allowed Reliance to sell Gap products across its standalone stores, departments store chains and online channels in India.
